Mobily CEO: Cash dividends rose in last 3 times.. and capital expenditure increased 30% after excluding spectrum investment

Nizar Banabila, CEO of Etihad Etisalat Mobily

Nizar Banabila, CEO of Etihad Etisalat Mobily, said that the company achieved growth in all its segments during the second quarter of 2026, pointing out that its cash dividends rose in the last three times compared to similar periods of previous years, while first half 2026 dividends increased by 17% year-on-year. Banabila explained, in an interview with CNBC Arabia, that the decline in capital expenditure to 1.3 billion riyals during the first half of 2026 compared to 2.7 billion riyals in the same period last year is due to an exceptional investment in spectrum worth 1.7 billion riyals recorded under capital expenditure last year, confirming that excluding this item, spending on capital projects rose by about 30% compared to the same period last year. He added that the company focused in the individuals segment on leveraging customer data and improving services provided to them, while in the business segment it expanded the scope of advanced ICT services, contributing to growth across all segments, including operator windows. He pointed out that cash flows from operations reached about 3 billion riyals, while free cash flows reached 2.7 billion riyals, and the company's net debt stood at about 7 billion riyals. Regarding dividend distributions for the second half of 2026, Banabila said the company seeks to strike a balance between financing its future investments and rewarding its shareholders, confirming that the distributions will be announced on time. According to data available at Argaam, Mobily's profits rose to 1.781 billion riyals at the end of the first half of 2026, up 12% compared to 1.597 billion riyals during the same period in 2025, while second quarter profits reached 901 million riyals.

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